Form 4: OneStream, Inc. Director Michael Burkland Reports Transactions

Michael Burkland, a Director at OneStream, Inc., reported transactions related to stock options, restricted stock units, and common units following the company's merger.

Summary

• Michael Burkland, a Director at OneStream, Inc., has filed a Form 4 detailing transactions that occurred on April 1, 2026.
• These transactions are a result of the company's merger, which involved multiple entities including OneStream, Inc., OneStream Software LLC, Onward AcquireCo Inc., Onward Merger Sub 2, LLC, and Onward Merger Sub, Inc.
• The filing indicates the conversion of stock options, restricted stock units (RSUs), and common units into cash payments.
• Specifically, 7,130 restricted stock units were vested and converted into cash.
• Stock options totaling 50,000 shares with an exercise price of $10.65 and 169,257 shares with an exercise price of $20 were vested and converted into cash.
• Additionally, 486,057 Common Units were cancelled and converted into cash.
• The cash payment for these conversions was based on a 'Per Share Price' of $24.00, less applicable withholding taxes.
• Some securities are held by the Burkland Family Trust, with Michael Burkland serving as trustee.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, as it confirms the completion of a merger and the conversion of equity awards into cash for a director, indicating a successful transaction outcome for the reporting person.

Positives

• Director Michael Burkland's stock options, RSUs, and common units were vested and converted into cash, indicating a payout event.
• The conversion was based on a 'Per Share Price' of $24.00, suggesting a favorable valuation in the merger.
• The filing confirms the completion of a merger event for OneStream, Inc.

Negatives

• The filing details the cancellation of stock options, RSUs, and common units, which are no longer held by the reporting person.
• The conversion into cash means the reporting person no longer holds equity in the surviving entity directly, though the cash payout is a positive outcome of the merger.

Risks

• The filing does not explicitly mention any new risks or challenges. The transactions are a consequence of a completed merger.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the immediate conversion of equity awards into cash as part of the merger.

Management Comments

• The filing is a statement of changes in beneficial ownership and does not contain direct quotes or paraphrased statements from management regarding strategy or outlook.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard for reporting insider transactions, particularly following significant corporate events like mergers. The conversion of equity awards into cash at a set price is a common outcome in such transactions, reflecting the agreed-upon valuation in the merger agreement.

Related Party Transactions

• The filing indicates that securities are held by the Burkland Family Trust, of which the reporting person (Michael Burkland) is the trustee. This represents a related party holding.

Stakeholder Impact

• Shareholders: The merger signifies a change in corporate structure, with OneStream, Inc. becoming a subsidiary. Shareholders will receive the 'Per Share Price' of $24.00 in cash for their shares, as per the merger agreement.
• Employees: Employees holding equity awards may have experienced similar vesting and conversion events, depending on their award terms and the merger agreement.
• Management/Directors: Michael Burkland, as a director, has had his equity awards converted to cash, realizing value from his holdings.

Next Steps

• The reporting person will receive cash payments for their vested stock options, RSUs, and common units, less applicable withholding taxes.

Key Dates

Keywords

Form 4, SEC Filing, OneStream, Inc., Michael Burkland, Merger, Stock Options, RSUs, Common Units, Beneficial Ownership, Director Compensation